News Column

Eurozone M3 Growth Accelerates; Lending Falls

August 28, 2014

BRUSSELS (Alliance News) - Eurozone money supply growth accelerated further in July and lending to the private sector declined from last year, the European Central Bank said Thursday.

M3 money supply grew 1.8% year-on-year in July, faster than the 1.6% increase in June. The annual rate also exceeded the expected 1.5%.

The three-month average of the annual growth rates of M3 during May to July increased to 1.5%, from 1.2% in the period from April to June.

Loans to private sector decreased 1.6% in July, but slower than the 1.8% decline seen a month ago. Credit extended to general government decreased by 1.8% and loans to household dipped 0.5%.

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Source: Alliance News

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